Ratios & Harmonics: a Different Way to Trade | Page 1231 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

"Ratios & Harmonics: a Different Way to Trade." Summary 37 replies

Learning to trade with harmonics 11 replies

Time for Change - Pivots & Harmonics to freedom 67 replies

180 reasons to trade Harmonics and Patterns 13 replies

Group Trading based on Elliott wave and Harmonics 0 replies

Attachments: Ratios & Harmonics: a Different Way to Trade
Exit Attachments

Ratios & Harmonics: a Different Way to Trade

  • #24,601
  • Feb 1, 2017 11:13am Feb 1, 2017 11:13am
Quoting Mr. Pip
Okay guys going to have lunch with the wife then pick up our daughter. I will catch up later today and post. Thank you for the support and to those that are helping to newer Traders. Remember to make yourselves available for the live stream Feb 21. The link will be placed here at 0900 that morning. This is eastern time. Live trading and live interaction. Catch you all later!
ok Dam, thanks for todays trade session. have a good day and see u tomorrow. happy trading
  • #24,602
  • Feb 1, 2017 11:14am Feb 1, 2017 11:14am
Quoting marciks
Hi, I'm new in FF. I have started to study this amazing methodology and want to become a master!! I have some doubts about structure analisys. it would be great if someone could answer me. Sorry about my english, I'm from Brazil. {image}
Welcome Marciks , please find the answers in the attached drawing :
Attached Image (click to enlarge)
Click to Enlarge Name: Harmonic question.png Size: 42 KB
  • #24,603
  • Feb 1, 2017 11:46am Feb 1, 2017 11:46am
Quoting marciks
Hi, I'm new in FF. I have started to study this amazing methodology and want to become a master!! I have some doubts about structure analisys. it would be great if someone could answer me. Sorry about my english, I'm from Brazil. {image}
1. You can put your stop wherever you want. The best place would always be right behind the swing you are trading. (in your case below the red line) Have in mind that the tighter the stop the more you're hurting the expectancy of the trade. If 70% of expectations workout with a stop behind the main swing... the success rate will be greatly reduced if you put your stop anywhere inside the main swing. (hope this makes sense)
In your example you could get long at point 1 if you expect a shallow retracement, solid confluence and orderflow supporting your long.

2.Yes, you could get short in the immediate orderflow (trading the pullback of longer term orderflow where expectation still remains a NSH) and then enter long to play out the longer term expectation. If price gets below point 3 then your immediate and longer term orderflow are aligned.
If you are able to distinguish different orderflows you can trade them and you can trade a shorter term expectation into a longer term one.

I hope this makes sense and is helpful.
  • #24,604
  • Feb 1, 2017 12:13pm Feb 1, 2017 12:13pm
My second trade on YM ended with +11 (long). My entry was too late and I wanted to get out before the news. Left several pips on the table.
  • #24,605
  • Feb 1, 2017 12:15pm Feb 1, 2017 12:15pm
I got your point guys, thanks for your time!
There is no justice for the weak
  • #24,606
  • Feb 1, 2017 12:53pm Feb 1, 2017 12:53pm
Guys please help me, is this analysis good? Natural Gas possible long, not trading it for the news

Andres

Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 33 KB
  • #24,607
  • Feb 1, 2017 1:07pm Feb 1, 2017 1:07pm
Quoting andddres1
Guys please help me, is this analysis good? Natural Gas possible long, not trading it for the news Andres 1.png;2167687 {image}
This looks like a perfect opportunity to go long to me for a 1:1 rotation upwards
  • #24,608
  • Feb 1, 2017 1:09pm Feb 1, 2017 1:09pm
Quoting andddres1
Guys please help me, is this analysis good? Natural Gas possible long, not trading it for the news Andres 1.png;2167687 {image}
Look good for me , just need to protect the trade for breakeven once it reach near strucutre at level 100 of the fib you draw . I cant see the risk reward here how much but look like its more than 2:1 which is good
  • #24,609
  • Feb 1, 2017 2:45pm Feb 1, 2017 2:45pm
Quoting kelvinyun
{quote} Thank you for the explanation. I'm truly overwhelmed by how much information you have extracted from the charts. Two important lessons implied: 1) Put ourselves in another's shoes. If we want to buy, then we better think what the sellers would want to do. 2) Bar by Bar the whole chart! It's pretty difficult for me to do that now. I need about 5 sec to analyze each bar. Hope I can improve on this. By the way, to the other readers out there, the YELLOW HORIZONTAL LINES are support resistance levels. They were drawn ages past.. weeks before....
Don't get overwhelmed, take it in strides. It's important to understand where your enemy will defend. You don't need to go crazy with the bar by bar. Look for areas that stand out from the regular order flow that show excess buying or selling. As for your yellow lines of support and resistance remember to only keep the strongest levels.

revisit this from time to time. You don't want to end up with so many that you then have little room to trade from level to level.
If you fail to plan, you plan to fail.
  • #24,610
  • Feb 1, 2017 2:54pm Feb 1, 2017 2:54pm
Hello Traders, Thank you for helping each other out. I don't really need to add anything to the explanations given. Well done.

If there is anything I have missed or you need further explanation just post again and I will answer it.

I'm very pleased with the progress you all are making. Definitely see a rotation towards profitable trading.
If you fail to plan, you plan to fail.
  • #24,611
  • Feb 1, 2017 8:11pm Feb 1, 2017 8:11pm
Quoting marciks
Hi, I'm new in FF. I have started to study this amazing methodology and want to become a master!! I have some doubts about structure analisys. it would be great if someone could answer me. Sorry about my english, I'm from Brazil. {image}
Everyone have given you different opinions. Some said you should short at complex corrections. Some said you shouldn't go against expectations.

My suggestion is don't go against expectations while we are still newbie. Don't trade during complex corrections.

We do not yet have the proper skillset to determine the probability of expectation failure.

So going against the expectation would put us at a 70% disadvantage.

One day, let's become as good as they are then we can trade even during complex corrections!
  • #24,612
  • Feb 1, 2017 8:49pm Feb 1, 2017 8:49pm
Quoting Mr. Pip
BE triggered +2 It's important to protect your trade you can always enter again the rules called for BE and that is it. Last month I left a lot on the table getting too aggressive with the trade management and breaking rules. {image}
Damian, I get too much of these BE+1, BE+2 trades even though they progressed really well either short or medium term and even long term.

Last night I got BE+15 pips. Even though price ran for 40 pips before it reversed and take out my shifted SL.



I'm going to amend this rule to minimize risk, and maximize profit for the short medium term. The justification is that there are a lot of 30 pips moves but rare for 100 pips move without facing large correction.


For every trades, eg, Damin's 15 contracts -> I will split a trade into 3 portion, lets call them X (5 contracts), Y (5 contracts), Z (5 contracts).

When trades are progressing well:

1) 10 PIPS PROFIT
- close X. Take profit @ 10 pips.
- shift Y's SL to BE.
- maintain Z at original SL.
(Best case scenario: price continues its trajectory... and we can profit more on Y & Z)
(Base case scenario: Y hit BE. Then we are left with Z running profitable)
(Worst case scenario: Y hit BE. Z hit the original SL. In this case, the loss is minimized as we have X being profitable and Z being losses)


2) 25 PIPS to 30 PIPS PROFIT
- close Y. Take profit at 25 - 30 pips.
- shift Z's SL to BE.
- and where possible, further shift Z's SL to Damian's rule of Fib 38% level.
(Best case scenario: price continues its trajectory... and we can profit more on Z)
(Base case scenario: Z got taken out @ 38% Fib level. But we already locked in profits for X & Y)
(Worst case scenario: Z got taken out @ BE. But we already locked in profits for X & Y)


These profit targets should be adjusted to reflect the volatility of the financial instruments you are trading.
  • #24,613
  • Feb 1, 2017 9:14pm Feb 1, 2017 9:14pm
Quoting andddres1
Guys please help me, is this analysis good? Natural Gas possible long, not trading it for the news Andres 1.png;2167687 {image}
Attached Image (click to enlarge)
Click to Enlarge Name: NATGAS.png Size: 46 KB


Case to short:
a) Projection to downside is strong.
b) Momentum is still good.
c) expectation of a NSL.

Case to long:
a) Depth is good.
b) Bulls is fighting back on the downswing - bar by bar
c) In a complex correction.
d) Short term order flow seems to favor bulls. (Higher low)
e) Risk reward is high.
f) Long-ing in a structure area.
  • #24,614
  • Feb 2, 2017 12:15am Feb 2, 2017 12:15am
Quoting andddres1
Guys please help me, is this analysis good? Natural Gas possible long, not trading it for the news Andres 1.png;2167687 {image}
Congratulations on the outcome!

Attached Image (click to enlarge)
Click to Enlarge Name: NGAS2.JPG Size: 124 KB
  • #24,615
  • Feb 2, 2017 12:47am Feb 2, 2017 12:47am
Quoting kelvinyun
{quote} Damian, I get too much of these BE+1, BE+2 trades even though they progressed really well either short or medium term and even long term. Last night I got BE+15 pips. Even though price ran for 40 pips before it reversed and take out my shifted SL. I'm going to amend this rule to minimize risk, and maximize profit for the short medium term. The justification is that there are a lot of 30 pips moves but rare for 100 pips move without facing large correction. For every trades, eg, Damin's 15 contracts -> I will split a trade into 3 portion,...
I am happy when I get a 1:1 move of a smaller leg, like my first trade yesterday (+19.5). Hence, I will normally not get the huge moves like 35+, but I have more problems to be like +15+ and to end with around BE or even negative at the end.
But I am still looking for the best way.

My long term goal is to get daily in average +15 to +20. This would be enough, but I have to work on my entries to remove risk.
  • #24,616
  • Feb 2, 2017 1:12am Feb 2, 2017 1:12am
Quoting evocpr19
{quote} I am happy when I get a 1:1 move of a smaller leg, like my first trade yesterday (+19.5). Hence, I will normally not get the huge moves like 35+, but I have more problems to be like +15+ and to end with around BE or even negative at the end. But I am still looking for the best way. My long term goal is to get daily in average +15 to +20. This would be enough, but I have to work on my entries to remove risk.
Exactly.... I feel your frustration... same scenario occurs to me so many times now.

I'm still reading page 885 of this thread so I do keep reading everyone's problem of making a lot of pips then losing it back to BE+1.

I trade UJ exclusively. As Damian said to find a bitch.. so I found one hahaha. The swings r large. I use the 233 tick chart whenever I trade.

But now I'm at work and can access only MT4. You can see how the 5 min chart produces huge moves.

Its tempting whenever i see you guys posting of trade entries in YM and EURUSD and USDCHF and others... but I try to stick to my bitch.

Attached Image (click to enlarge)
Click to Enlarge Name: UJ.JPG Size: 214 KB
  • #24,617
  • Feb 2, 2017 2:08am Feb 2, 2017 2:08am
Quoting kelvinyun
{quote} Exactly.... I feel your frustration... same scenario occurs to me so many times now. I'm still reading page 885 of this thread so I do keep reading everyone's problem of making a lot of pips then losing it back to BE+1. I trade UJ exclusively. As Damian said to find a bitch.. so I found one hahaha. The swings r large. I use the 233 tick chart whenever I trade. But now I'm at work and can access only MT4. You can see how the 5 min chart produces huge moves. Its tempting whenever i see you guys posting of trade...
You mean like this one

you are catching this style soo fast , I like your analysis , very good
Attached Image (click to enlarge)
Click to Enlarge Name: tempting.png Size: 132 KB
  • #24,618
  • Edited 3:09am Feb 2, 2017 2:52am | Edited 3:09am
Quoting marwan71
{quote} You mean like this one you are catching this style soo fast , I like your analysis , very good {image}
Nice! That was a 30 pip move!

Attached Image (click to enlarge)
Click to Enlarge Name: AJ.JPG Size: 222 KB


Better think of getting out now LOL! Failed to make NSH.

TBH

I'm learning from not only Damian, and you, and these seniors such as Mack2013 rocky ujku80 evocpr19 harmonic1976, so its really helpful.. going through these thousands of pages are never boring, and all the charts posted are real live trades from real professional traders. Seeing how you guys formulated a plan, entered, reacted, and exited.
  • #24,619
  • Feb 2, 2017 3:17am Feb 2, 2017 3:17am
Quoting kelvinyun
{quote} Nice! That was a 30 pip move! AJ.JPG;2168676 Better think of getting out now LOL! Failed to make NSH. TBH I'm learning from not only Damian, and you, and these seniors such as Mack2013 rocky ujku80 evocpr19 harmonic1976, so its really helpful.. going through these thousands of pages are never boring, and all the charts posted are real live trades from real professional traders. Seeing how you guys formulated a plan, entered, reacted, and exited. {image}
lol nice drawing

JPY/USD and EUR/USD been playing with me this morning. Both left me on the side. Could've entered on JU but it was going to be a BE trade like Tuesday. I think that the Chinese holiday is messing a lot with the early european session.
  • #24,620
  • Feb 2, 2017 3:25am Feb 2, 2017 3:25am
Got one trade USDJPY +27 Maybe someone have some ideas why i shouldn't take this trade.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY1.PNG Size: 61 KB

My expectation was NSL (target 1:1 previous swing) or at least retest of structure SL above 61.8
Sorry for english. second language.
10 traders viewing now